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2011 Session

Budget Amendments - SB800 (Member Request)

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Chief Patron: Governor McDonnell
Adjust Page One-General Fund Resources (language only)

Item 0 #2g

Item 0 #2g

Revenues
Revenues

Language
Page 1, line 44, strike "$77,960,311", "$144,710,978" and "$222,671,289" and insert:
"$85,512,262 ", "$180,547,136" and "$266,059,398".
Page 1, line 46, strike "$14,717,449,909",  "$15,452,197,926" and "$30,169,647,835" and insert :
"$14,716,849,909", "$15,451,677,926" and "$30,168,527,835 ".
Page 1, line 48, strike "$427,428,371", "$485,948,869" and "$913,377,240" and insert:
"$427,603,371 ", "$472,104,916" and  "$899,708,287".
Page 2, line 1, strike "$15,714,082,591", "$16,082,857,773" and "$31,796,940,364" and insert:
"$15,721,209,542", "$16,104,329,978" and "$31,825,539,520".
Page 2, line 18, strike "$43,699,396,347", "$41,026,652,287" and "$84,726,048,634" and insert:
"$43,706,523,298", "$41,048,124,492" and "$84,754,647,790".


Explanation
(This amendment adjusts resources on page one of the budget. Specifically, these changes include: $13,843,953 reduction in fiscal year 2012 cash transfers associated with savings from the five percent employee retirement contribution and other related costs of the state employee salary increase; increase in fiscal year 2012 additions to balance of $35,836,158 to reflect the assumptions used to calculate employer contributions for state employee retirement; savings of $7,551,951 from the bonus implemented in fiscal year 2011 - Chapter 874 assumed a total need of $82.2 million whereas actual total distributed to agencies was $74.6 million; an increase of $175,000 in cash transfers in fiscal year 2011 from the sale of the Women's Detention Center; and a revenue decrease of $600,000 in fiscal year 2011 and $520,000 in fiscal year 2012 resulting from federal tax legislation enacted on December 17, 2010.)